8 Sep 2003

Sunk French Polynesian insured below replacement costs

4:16 pm on 8 September 2003

The operators of the sunk French Polynesian ship, Tahiti Nui IV, say the vessel was insured for 2 million US dollars although its replacement value is about 3-point-3 million dollars.

The ship capsized in heavy seas in the south of the archipelago 5 days ago leaving three people dead and four missing.

Leonard Puputauki, who is the head of the intervention group or GIP which used the vessel to transport building materials to Rimatara, says from tomorrow all those people relevant to the tragedy will be interviewed.

Three different probes have been opened, including one by insurance experts, to determine the cause of the accident

Mr Puputauki also says the director of the insurance company, Poema, will travel to Paris tomorrow to deal with the claim.